Friday, November 12, 2004
Intel Corp. has elected Paul Otellini, currently president and chief operating officer (COO), as its next chief executive officer (CEO). Otellini, 54, is set to succeed Craig Barrett in May 2005, the company said Thursday (Nov. 11).
At that time Barrett, 65, is to succeed Andrew Grove as chairman of the Intel board of directors. Grove, 68, would cease to serve on the Intel board of directors but would assume the role of senior advisor to the board and senior management, the company said. The changes are to become effective at the time of the company's next annual stockholders' meeting May 18, 2005.
"Craig and Paul are the right team at the right time for Intel," said Grove. "We're exceptionally fortunate to have them at the helm."
Otellini joined Intel in 1974 and has served as president and COO since January 2002. In 1990 he was named to oversee Intel's microprocessor business as general manager and led the introduction of the Intel Pentium processor in 1993.
Barrett joined Intel in 1974 and has served as CEO since 1998. He was elected to the board of directors in 1992.
By: DocMemory
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